IRS announces new federal tax brackets for 2025 with modest adjustments

newsweek.com

The IRS has announced new federal income tax brackets for 2025, reflecting a 2.8 percent increase due to inflation. This adjustment will affect taxpayers' take-home pay as they begin to see changes in their first paychecks of the year. The standard deduction has also increased, rising to $15,000 for single filers and $30,000 for married couples filing jointly. These changes aim to help taxpayers keep pace with inflation, although the overall impact on take-home pay is expected to be minimal compared to previous years. Taxpayers can begin filing their 2025 returns in late January, with the deadline set for April 15, 2025. Those needing more time can request an extension until October 15, 2025.


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IRS announces new federal tax brackets for 2025 with modest adjustments | News Minimalist